Renison Tin Operations (MLX 50%)

Metals X is a globally significant tin producer with its 50% equity interest in the Renison Tin Operations in Tasmania (Renison) through its 50% stake in the Bluestone Mines Tasmania Joint Venture (BMTJV).

The key assets of the BMTJV are the world class Renison Tin Mine, a 700,000 tonne per annum tin concentrator plant and the Renison Tailings Retreatment Project (Rentails).

Renison Tin Project

Renison is located on the west coast of Tasmania, approximately 15km north-east of Zeehan, and is one of the world’s largest and highest grade tin mines with mining spanning three centuries. Renison is the largest tin producer in Australia and one of the few publicly held tin projects in the world.

The current Mineral Resource is 15 million tonnes at a tin (Sn) grade of 1.35% Sn for 203,000 tonnes of contained tin. The Ore Reserve is 6.8 million tonnes at a grade of 1.06% Sn for 72,000 tonnes of tin (approximately 8 years). Renison is currently producing approximately 7,000 tonne of tin in tin concentrate per year.

Renison is currently expanding production through the construction of a new crusher plant and ore sorter. The strategy with the ore sorter is to increase underground ore production to approximately 920,000 tonnes per annum, while maintaining the processing plant at approximately 720,000 tonnes per annum. The ore is sorted with the rejection of an estimated 200,000 tonnes per annum of waste by the ore sorter, upgrading the mill feed grade with a resulting increase in tin production by an estimated 15-20%.

Over the past few years the joint venture has invested considerable capital into exploration and increase of the resource base at Renison. Continued underground exploration activity has defined new zones of high-grade tin mineralisation beyond the boundaries of the current resource, and has also highlighted significant opportunities above existing development which were unrecognised by previous operators and now provides the opportunity for rapid conversion to reserve.

The renison Project

Renison Tailings Retreatment Project (Rentails)

The objective of the Rentails Project is to re-process the estimated 22.5 million tonnes of tailings at an average grade of 0.44% tin and 0.23% copper from the historical processing of tin ore. The current tailings dams have a Probable Ore Reserve containing approximately 99,000 tonnes of tin and 51,000 tonnes of copper. Rentails is one of the largest single resources of tin available in Australia today.

A DFS was completed in 2009. Environmental approvals are in progress and Metals X is currently working with its joint venture partners to prepare the project for development.